Now, China has its own oil majors, just like the Americans. But we’d argue the Chinese names offer a better value proposition for investors. Why? Higher dividend yields.

Oil prices have stayed elevated since the Iran War started. And for upstream oil & gas companies, this is great news — the oil they pump out of the ground is suddenly worth a lot more. Sell at higher prices, profit margins widen. Simple.

But it’s less fortunate for downstream players — refineries and petrol retailers — because their cost of fuel has gone up. So no, it’s not the entire oil and gas industry that benefits from high oil prices. The distinction matters.

Take ExxonMobil. The dividend yield is just 2.4%. And after a 30% dividend withholding tax, investors are left with roughly 1.7%. Compare that to China’s oil majors, which are paying at least 4.5% — and even after a 10% tax, you’re still pocketing more than 4%.

What do you think ? China oil is much better and they are not worried with Iran conflict